Operator: Good afternoon. My name is Tracy and I will be your conference operator today. At this time, I would like to welcome everyone to the DISH Network Corporation Q4 2012 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks there will be a question-and-answer session. Thank you.

I would now like to turn the call over to Mr. Jason Kiser, VP Treasurer. You may begin your conference.

Both Joe and Robert have some prepared remarks that they would like to go through before we open it up for Q&A and then following the analyst portion of the call we're also going to invite the press to ask some questions as well.

Before we do all that we do need to do our Safe Harbor disclosures so for that we'll turn it over to Stan.

R. Stanton Dodge - EVP, General Counsel and Secretary: Thanks Jason. Guests and media representatives not identified participants or their firms in your reports. We also do not allow audio taping and ask that you respect that.

All statements we make during this call that are not statements of historical facts constitute forward-looking statements, which involve known and unknown risks, uncertainties, and other factors that could cause our actual results to be materially different from historical results and from any future results expressed or implied by such forward-looking statements. For a list of those factors, please refer to the front of our 10-K.

All cautionary statements that we make during this call should be understood as being applicable to any forward-looking statements we make wherever they appear. You should carefully consider the risks described in our reports and should not place undue reliance on any forward-looking statements, which we assume no responsibility for updating.

With that out of the way, I'll turn it over to Joe.

Joseph P. Clayton - President and CEO, DISH Network: Thanks, Stanton and good afternoon to those of you on the East Coast and good morning to our West Coast participants. We at DISH continue to invest in our portfolio of assets that will serve as the foundation for our long-term growth. First and foremost on everyone's today is our wireless spectrum investments. We were pleased to have some clarity on our S-Band spectrum as a result of the FCC's recent rule-making process. (Russ Charlie) is here to take your questions on wireless a little later.

Next let me give you our own update on Blockbuster. First, we're shutting down 300 unprofitable domestic stores in the next few months. This will leave us with approximately 500 stores and we'll continue to evaluate these over the coming months. Going forward, we'll focus on maximizing value from this brand and monetizing the non-strategic assets.

So at DISH today, it is clear that we embrace change. We embrace technology and most importantly we embrace the consumer. We're using innovation to make consumers' viewing experience easier and simpler. That is why unlike many content providers and broadcasters, we're willing to take risk and to make changes to our existing technology and business model. To win in a sea of sameness which is nature of today's pay-TV market, we must distinctively differentiate our products and service, and this is what DISH has been doing over the last year, all with an eye on what the consumer is willing to pay.

Transcript Call Date 02/20/2013

Operator: Phil Cusick, JPMorgan.

Phil Cusick - JPMorgan: I guess for Charlie can you give us an idea first on wireless. How long do you think you can work on this before it gets down to the point where you walk away and you've tried a number of avenues so far looks like you have done some interesting things. But how long do you have before the timing of the build out and sort of market opportunity phase. Then second on the H-Block can you give us any thoughts on when you think that auction might happen?

Charles W. Ergen - Chairman: On the second part H Block we don’t have any insight. The SEC I think has indicated that it'd like to get the H Block auction done this year, I think that’s what they've said publicly usually things take a little longer, but this FCC's hit a lot of milestones that they've publicly said they have hit a lot of those. So they are the best people to ask for that. but I think the H Block auction will happen. If we go by the next auction to happen, I think it will happen before the 700 megahertz. So it's probably the next one to happen. In terms of – we have seven years to build-out, so we're – and we don't think the value of our spectrum goes down, so I think the focus for the next year will be to figure out what the best path for us with our preference mean to partner with somebody. It's in the business today. We have plenty of time to that and make the right decisions and so forth. The trick is not to lose a lot of money, while you're trying to make the long-term strategic call.

Phil Cusick - JPMorgan: So plenty of time?

Charles W. Ergen - Chairman: I'd say this, I think the way the industry is framed right now, you've got several – while we were in the FCC review process, obviously a lot of the dance partners, pick partners, right. So those are all coming up with shareholders votes in the next three, four months. So by the time you get to say June, you probably had three or four shareholder votes. Out there that only gives a better indication of what the landscape is.

Operator: Marci Ryvicker, Wells Fargo.

Marci Ryvicker - Wells Fargo: I have two questions. The first is just a numbers question for Robert and then I have a strategic question for Charlie. So, first on the number side, Robert can we have the total SAC number for the fourth quarter? I know the $791 is for pay-TV. Do you have consolidated number or a broadband only number? Then with the strategic question, Charlie, last time you were in front of us, you mentioned that within 30 days of receiving the NPRM that you would reveal your wireless plans and I think we keep hearing from all these public outlets that your biggest plan is to partner with somebody. Is there more that you can reveal to us? I feel like people are waiting for some sort of announcement maybe on this call or are you just happy enough telling us that you first and foremost want to partner with somebody?

Robert Olson - EVP and CFO: So, Marci, I'll take the first question. Included within our total subscriber acquisition cost is $27 million of operating expense related to broadband in the fourth quarter, and about $10 million of capital related to broadband in the fourth quarter. This historically was a much lower number. In fact, if you go back to fourth quarter last year the operating expense for broadband acquisition cost was under $1 million.